Jan 10, 2021 | IRS, Tax Compliance, Taxes
The IRS released updated mileage rates for tax year 2021. Effective January 1, 2021 the standard mileage rates for the business use of an automobile will be 56 cents per mile, down from 57.5 cents per mile in 2020. Medical or moving mileage is 16...Mar 10, 2017 | Business Tax Planning, IRS, Personal, Tax Compliance, Tax Credits, Tax Planning, Tax Proposals, Taxable Income
Tax season 2017 is in full swing. Statistics issued by the IRS showed a 17.2% decline in the total number of returns received through February 10, 2017 compared to the same period last year. The decline was most likely caused by the mandate on refunds on returns...Aug 25, 2016 | Accounting, IRS, Tax Compliance, Tax Credits, Tax Planning, Taxable Income
I was blessed with my first two grand babies this summer! (Stone Alexander and Grace Jenna) While Grammie won’t realize any tax benefits from the birth of these two babies, their parents will become eligible for a whole new set of tax breaks. Dependents Claiming your...Jul 6, 2016 | Budgeting, Business Tax Planning, IRS, Tax Compliance, Tax Planning, Taxable Income
Summer is here, 2016 is half over, and it’s a great time to organize your taxes. It seems most of my clients wait until January to look for their records, organize their charitable donations, and review investment accounts. While it may not be fun to spend a...Jan 28, 2016 | Deductible Expenses, Tax Compliance
The IRS released the 2016 standard mileage rates for business, medical and moving in December. The rates have decreased from 2015, probably due to the decrease in the cost of gasoline. Effective January 1, 2016, the standard mileage rates for the use of an...